TMCnet News
Tampa Electric Goes Live on Allegro Commodity ManagementAllegro Commodity Management, a leading provider of commodity trading and risk management (CTRM) software, announced today that Tampa Electric is live on Allegro 8 for power, completing the second phase of its project to consolidate multi-commodity transaction lifecycle management for its regulated electric and gas utility operations. Tampa Electric is part of TECO Energy, a utility holding company headquartered in Tampa, Florida and traded on the New York Stock Exchange (TE) as part of the S&P 500 index. TECO Energy has three core businesses, including Tampa Electric, Peoples Gas System and New Mexico Gas Co. Tampa Electric provides electricity to more than 715,000 customers in West Central Florida; Peoples Gas System distributes natural gas to more than 360,000 customers across Florida; and New Mexico Gas Co. distributes natural gas to more than 515,000 customers across New Mexico. Tampa Electric selected Allegro in Q4 of 2013 to manage natural gas, power and solid fuels in an effort to streamline business processes managed inlegacy, homegrown systems and spreadsheets, with the goal of consolidating position, credit and risk management. Allegro automates the flow of data across departments and lines of business for a comprehensive, 360° view of a portfolio. "Our project team worked closely with Tampa Electric to deliver the second phase three months ahead of schedule, effectively accelerating their ROI timetable," said Frank Brienzi, Allegro CEO. The project was phased in by line of business, with the first phase being natural gas purchasing. Tampa Electric went live on Allegro for natural gas in November of 2014. This announcement marks the completion of the second phase of the implementation, where the company deployed Allegro's power solution, layered on top of the natural gas business, allowing greater visibility into the business. The third and final phase of the project will further extend the Allegro solution footprint to include solid fuels business operations. For more information about Allegro commodity management software, visit allegrodev.com. About Allegro Allegro is a leading provider of commodity management software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of industry expertise, Allegro's software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, Jakarta, London, Malaysia, Shanghai, Singapore, Sydney, and Zurich, along with a global network of partners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151013005347/en/ |
